Quantitative Analyst, Model Development Division

3 weeks ago


Ottawa, Canada Bank of Canada Full time

**Quantitative Analyst, Model development division**

**Take a central role**

The Bank of Canada has a vision to be a leading central bank—dynamic, engaged and trusted—committed to a better Canada. No other employer in the country offers you the unique opportunity to work at the very center of Canada’s economy, in an organization with significant impact on the economic and financial well-being of all Canadians. You will be challenged, energized and motivated to excel in our environment.

Building on the principles that have always guided us - excellence, integrity and respect - we strive to be forward-looking and innovative, to welcome people with diverse perspectives and talents, and to earn trust by living up to our commitments and by clearly explaining the intent of our policies and actions.

With our defined-benefit pension plan, benefits, and high flexibility for work life balance - find out more about why we are annually ranked as one of Canada's top employers: Working Here - Bank of Canada

Find out more about the next steps in our Recruitment process.

**About the position**
The primary responsibility of the Canadian Economic Analysis (CEA) Department is to provide high-quality economic analysis, projections and longer-term research that contribute to the Bank of Canada’s monetary policy function.

CEA’s work incorporates an increasingly broad range of economic perspectives emerging from two-way engagement with the Canadian public, businesses, civil society organizations and the academic community. The department plays an active role in the communication of monetary policy (by producing the Staff economic projection and giving interest rate recommendations) with these stakeholders and disseminating research at seminars and conferences, as well as through working papers and economic journals.

**Your future responsibilities**
- Develop and implement complex quantitative models and analytical software/tools
- Perform quantitative analyses (e.g., advanced data analytics, stochastic simulations, risk modeling) and coding tasks (e.g., pattern recognition, statistical regressions, machine learning)
- Implement state-of-the-art simulation strategies (e.g., neural network) in large-scale macroeconomic models (including DSGE models, econometric models and agent-based models)
- Collaborate with teams of economists, mathematicians, computer engineers and data scientists to develop macroeconomic models and optimal modelling strategies
- Detail model specifications and methods of data collection. Generate requirement documentation for model developers and economists
- Clearly and effectively analyze, interpret and communicate model simulation results (both orally and in written reports) with economists and/or senior management
- Act as an expert technical resource and actively contribute to research and modelling tasks including developing solution and computing algorithms (e.g., zero lower bound, learning and nonlinear solution methods and parallel computing etc)

**Education and experience**
- Minimum of three years of relevant experience including 2 years of coding experience.
- a college or university degree (preferably in computer science, computer engineering, applied mathematics or economics with a strong technical background)

or
- an equivalent combination of education and experience may be considered

and
- Mathematical skills including calculus (differential, integral, and stochastic); linear algebra and differential equations; numerical linear algebra; probability and statistics; game theory
- Demonstrated knowledge and experience working with programming languages such as MATLAB, Python, TensorFlow, Julia or other programming language (used for macroeconomic modelling, as well as modelling analysis using high-frequency data)
- Object-oriented programming, including familiarity with economic and financial modelling; big data modelling; and database management
- Experience with model and data visualization tools (e.g. EViews, R, C++, SQL, C/C++, Perl, Java, PowerBI)

**Assets**
- Good communication skills in both official languages
- Work experience in economic model development, forecasting analysis (building models; estimation and simulation for policy analysis)
- Experience with advanced simulation and data analysis methods (Monte Carlo techniques, machine learning methods, data mining tools)

**Your knowledge and skills**
This role will require you to work with economists and technical specialists to ensure that business needs and requirements are met.

You have a good understanding of coding best practices and strong attention to details. You demonstrate competence employing logic and mathematical/programming tools to tackle abstract macroeconomic and financial problems.

We are looking for a self-starter who is highly motivated, innovative and has demonstrated competence to work independently and in a team environment, with a willingness to share ideas, knowledge and providing and rec



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